RPM International raises dividend for 42nd consecutive year
RPM International will raise its quarterly dividend to $0.275 per share, marking 42 years of consecutive dividend increases.
The new annual dividend of $1.10 per share translates into an indicated dividend yield of 2.5% for RPM International based on a stock price of $44.
Check out RPM's press release regarding the dividend history below:
This action marks RPM's 42nd consecutive year of increased cash dividends paid to its stockholders, which places RPM in an elite category of less than half of 1 percent of all 19,000 publicly-traded U.S. companies. Only 45 other companies, besides RPM, have consecutively paid an increasing annual dividend for this period of time or longer, according to the 2015 spring edition of the Mergent Handbook of Dividend Achievers. At a share price of $43.50, RPM's dividend yield would be 2.5 percent.
"We are pleased to once again reward our shareholders by increasing our cash dividend," stated chairman and chief executive officer Frank C. Sullivan. "It is through their investment of financial capital that we have been able to continually grow the business and outperform the cumulative total return generated by both the S&P 500 and our peers over the past decade."
Source: RPM International